How Gov Aspirants Spend Up to N30bn to Win Elections

EFCC Chairman Ola Olukoyede says some governorship aspirants spend between N20 billion and N30 billion to secure electoral victory, warning that the high cost of politics threatens Nigeria’s democracy.

Olukoyede spoke Wednesday at the University of Ilorin while delivering a lecture organised by the Centre for Peace and Strategic Studies on preparations for the 2027 general elections.

He said candidates who spend heavily to win office may be tempted to misuse public funds to recover campaign costs. 

According to him, the commercialisation of votes weakens good governance because it compromises the political recruitment process.

He noted that eaders who buy their way into office are more likely to focus on recovering their investments rather than serving the public interest.

Olukoyede said the EFCC will continue to clamp down on vote-buying and other financial inducements that influence elections. 

The commission has arrested several people nationwide for electoral offences linked to money politics, he said. Those facing prosecution include politicians, electoral officials, and others who violated electoral laws.

“There should be no sacred cows in the fight against electoral corruption,” Olukoyede said. “Allowing offenders to go unpunished could threaten Nigeria’s democratic stability.”

He said the commission will strengthen election monitoring ahead of 2027 by deploying drones and other technology to detect vote-buying and suspicious financial activities around polling units.

Olukoyede urged political parties and supporters to run issue-based campaigns and avoid inflammatory statements that could trigger violence. 

He called on INEC, security agencies, civil society, the media, and other stakeholders to work together for peaceful and credible elections.

University of Ilorin Vice-Chancellor, Prof. Wahab Egbewole, SAN, said electoral corruption remains a major challenge. He noted that transparent elections are critical to national stability, economic growth, and public confidence in government.

Centre for Peace and Strategic Studies Director, Prof. G.A. Animasawun, said the lecture series aims to spur early discussion of threats to the 2027 polls.

The event drew academics, security agencies, electoral officials, civil society groups, and students.